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On Tuesday, Deutsche Bank (ETR:DBKGn) increased its price target on Ayvens SA (ALD:FP) shares to EUR11.20, up from EUR10.00, while keeping a Buy rating on the stock. The revision follows Ayvens’ strong performance in the first quarter of 2025, which was highlighted by robust leasing and service margins, impressive used car sales, and enhanced operational efficiency. The firm’s successful integration of LeasePlan contributed to these results, bolstering confidence in Ayvens’ mid-term objectives.
According to Deutsche Bank’s analyst, Ayvens’ Common Equity Tier 1 (CET1) ratio stood at 13.2%, surpassing their target of 12%. This robust capital position led to expectations of a buyback program worth EUR300 million in the second half of 2025. This program is estimated to represent about 55 basis points of CET1 or 4% of the company’s current market capitalization. The bank’s forecast for Ayvens’ earnings per share (EPS) has been increased by 3% to 6% for the years 2025 to 2027.
The analyst pointed out that the recent sale of approximately EUR450 million worth of shares has improved the free float, further supporting the positive outlook for Ayvens. The upgraded price target to EUR11.20 is based on the higher earnings estimate and a reduced cost of equity, now at 11.5% compared to the previous 12%. The rationale behind this adjustment is the improved risk profile and a stronger track record demonstrated by Ayvens and its parent company, Societe Generale (OTC:SCGLY) (SocGen).
The report from Deutsche Bank reflects a positive view on Ayvens’ financial health and market position. The anticipated share buyback program, along with the company’s solid first-quarter results, seem to underpin the bank’s decision to raise the price target and maintain a bullish stance on the stock.
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